Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $62,000 and $68,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale and the remaining 40% in the following month What amount of accounts receivable would the company report in its balance sheet at the end of the second month? Multiple Choice $65,600 $24,000 $27,200 $37200